Contracts for the sale of the French combined cycle gas power plants Pont-Sur-Sambre and Toul signed

10/13/2014Vienna

VERBUND, Austria's leading electricity company and KKR, a leading global investment firm, have signed the contracts for the already announced sale of the French combined cycle gas power plants Pont-Sur-Sambre and Toul today.

"This sale represents a considerable milestone in the optimisation of the thermal power plant portfolio for VERBUND. This transaction will mean our strategy, which mainly involves focussing on profitable as well as environmentally-friendly production from hydropower and on stable core markets in Austria and Germany, can be consistently implemented. Additionally, we are improving our future earning developments and strengthening our position as a renewable electricity producer in Europe" says CFO Peter F. Kollmann regarding the successful sale.

Through the conclusion of the transaction, there will no longer be any negative earnings contributions in conjunction with the two disposed of gas-combined cycle power plant as of 2015.

VERBUND

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